McKinley Carter Wealth Services Inc. Decreases Stock Position in Tractor Supply (NASDAQ:TSCO)

McKinley Carter Wealth Services Inc. lowered its position in shares of Tractor Supply (NASDAQ:TSCO) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,337 shares of the specialty retailer’s stock after selling 579 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Tractor Supply were worth $2,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Tractor Supply by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares during the period. Marshall Wace LLP lifted its stake in Tractor Supply by 2,921.4% in the 2nd quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after buying an additional 345,402 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Tractor Supply by 11,952.8% in the 1st quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock valued at $63,121,000 after acquiring an additional 239,176 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in Tractor Supply in the 2nd quarter valued at $38,070,000. Finally, Swedbank AB acquired a new stake in Tractor Supply in the 1st quarter valued at $34,262,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analysts Set New Price Targets

TSCO has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a research report on Monday. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Melius Research began coverage on Tractor Supply in a research note on Monday, September 23rd. They set a “buy” rating and a $315.00 target price for the company. Wedbush reaffirmed a “neutral” rating and set a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. Finally, Citigroup raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $268.32.

Tractor Supply Stock Performance

Tractor Supply stock traded up $1.61 during trading on Wednesday, hitting $302.43. The stock had a trading volume of 71,806 shares, compared to its average volume of 1,046,272. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 3.73 and a beta of 0.80. The stock’s 50 day moving average is $277.45 and its two-hundred day moving average is $271.25. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.45%. Tractor Supply’s dividend payout ratio is currently 42.84%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.